Independence Contract Drilling, – Consensus ‘Buy’ rating and 73.1% Upside Potential

Broker Ratings
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Independence Contract Drilling, which can be found using ticker (ICD) have now 4 analysts in total covering the stock. The consensus rating is pointing to ‘Buy’. The range between the high target price and low target price is between 7 and 4.7 with the average target price sitting at $5.92. Given that the stocks previous close was at $3.42 and the analysts are correct then there would likely be a percentage uptick in value of 73.1%. The day 50 moving average is $3.92 and the 200 moving average now moves to $3.50. The market capitalization for the company is $45m. Visit the company website at: https://www.icdrilling.com

The potential market cap would be $78m based on the market consensus.

Independence Contract Drilling, Inc. provides land-based contract drilling services for oil and natural gas producers in the United States. The company constructs, owns, and operates a fleet of pad-optimal, superspec AC powered rigs, and additional idle AC rigs in the Permian Basin and the Haynesville Shale. Its fleet consists of 26 rigs. Independence Contract Drilling, Inc. was incorporated in 2011 and is headquartered in Houston, Texas.

The company is not paying dividends at this time.

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